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Applied Materials to invest Rs 1,800 cr in India

Applied Materials to invest Rs 1,800 cr in India

In addition, the company is investing Rs 340 crore In India currently and will invest another Rs 1,500 crore over the next few years.

(representational image) (representational image)

Applied Materials, a material engineering solutions and one of the largest semiconductor display equipment manufacturers in the world, has announced a cumulative investment of Rs 1,800 crore in India over the next few years. 

Applied Materials India recently invested $50 million to purchase land in Whitefield, Bangalore, where the company plans to expand its engineering infrastructure and support the next phase of our growth. “We expect this investment to support future product development and R&D, as well as benefit the development of the local supply chain,” says Srinivas Satya, Country President and Managing Director, Applied Materials India. 

In addition, the company is investing Rs 340 crore In India currently and will invest another Rs 1,500 crore over the next few years.

While speaking at the SemiconIndia 2022 conference, he also added that the company plans to expand its infrastructure in the country.

“Applied Materials is excited to be a part of the Semicon India Conference and join the government’s vision of making India an electronics hub by supporting the new India semiconductor and display policies. The government’s mission mode approach to evolve the country’s semiconductor sector, together with the Ease-of-Business initiatives and scaling up of indigenous electronics end-manufacturing, are positive and practical steps to enable India’s Semiconductor Mission.”

Been in India for the last 20 years, Applied Materials has a team of over 6,000 workers working out of India, representing a key part of Applied’s product development, operations and information technology services.

To achieve its decades old dream of getting commercial fabs in India, the government has announced a financial outlay of Rs 76,000 crore in December 2021. Industry veteran Vinod Dham had told Business Today that this Top-to-Down approach will make India’s dream real. “It is a very, very well thought out strategy and approach, which is what the current administration is showing that they have done, and this is what makes it so much more real this time.”

India’s semiconductor consumption will reach $80 billion in 2024-26 and $110 billion by 2030. 

Published on: Apr 29, 2022, 9:52 PM IST
Posted by: Aparna Banerjea, Apr 29, 2022, 9:49 PM IST